eToro, the world’s social trading, and investing platform have introduced a new feature, CopyTrader. This feature is especially available for US traders as of now. With the CopyTrader feature, traders can follow the top traders and automatically copy their trades and earn an equivalent profit. It is like following people and reaping benefits out of it.
U.S. clients can follow popular traders like Rhythm Trader or Nicholas Merten of DataDash or UFC fighter Ben Askren. These traders have a follower of about 1 million combined. They were specifically chosen by the eToro community to promote the crypto ecosystem. These popular investors are compensated based on the no.of followers copy their trades.
The traders need not invest the total amount of their favorite trader’s funds to copy their trades. In fact, they can invest a smaller amount and CopyTrader will calculate the trader’s they follow in percentage. That means, traders can invest as much as 1% of the popular traders and gain benefits accordingly. However, the only restriction is a minimum investment to use the feature is $200.
Guy Hirsch, US Managing Director of eToro, said: “CopyTrader can help anyone to build their wealth in a simple and transparent way. Users who want to leverage the crypto asset class can now simply look for an investor with a proven track record and just hit copy to execute the same trades automatically. CopyTrader allows users with less time or expertise to connect with users who have demonstrated capabilities in the trading space, all on one platform.
Alec Baldwin promotes eToro’s CopyTrader
Alexander Rae Baldwin III (Alec Baldwin) is a popular American celebrity. eToro platform brought in Alec Baldwin to promote the new feature in a bid to attract new investors to the platform. The Saturday Night Live actor says:
“Now maybe you’re thinking, but I’m just a food blogger, I can’t do this trading stuff on my own… Just find a top investor on eToro… and hit copy. From now on, whenever they make a trade, you make the same trade automatically.”
Earlier eToro platform had introduced a CryptoTwitter feature. This allows the traders to analyze crypto sentiments of the users through their tweets. The platform says ‘Crypto Twitter Sentiment’ algorithm claims 281% returns. The crypto trading platform is working diligently towards enhancing the crypto ecosystem.